Adjustable Rate Mortgage (ARM)
We offer adjustable rate mortgage (ARM) loans with terms of 5, 7 and 10 years. An adjustable rate mortgage provides the borrower with a lower initial payment, yet carries a degree of uncertainty. An ARM loan will temporarily lock into a rate at the time of closing. After the initial lock period ends the rate will adjust for the remaining life of the loan, depending on market rates at that time. Adjustable rate mortgages allow borrowers to take advantage of lower interest rates without refinancing, however they should always prepare for rate increases as well. If you are considering a refinance or a move in the near future, an ARM loan may be a great option for you as the lower initial rates can offer a cheaper route for borrowers who don’t plan on staying in one place for long.
Construction
We offer a one-time-close, construction-to-permanent loan programs. A one-time close allows borrowers to simplify and streamline the construction financing process, with just one approval, closing and one set of closing costs. Borrowers save money by having the interest rate locked upfront and the initial construction loan convert to a long-term mortgage once construction is complete.
FHA (Federal Housing Administration)
The FHA loan program is a great option for homebuyers that may have less than perfect credit or limited funds available for a down payment. FHA requires a down payment of less than 5%, which can be a gift from an acceptable source. FHA also features flexible qualifying standards and less strict credit requirements than many conventional loans.
Fixed Rate Mortgages
A fixed rate mortgage provides the borrower peace of mind knowing their monthly payment will be the same for the life of the loan. With loan terms ranging from 10 to 30 years, you can pay off your mortgage at a pace that's best for your unique situation. Fixed interest rates will always remain the same, and your principle and interest payment will never change. If you appreciate the convenience of a consistent mortgage payment, this could the perfect program for you!
Freddie Mac Home Possible®
The Freddie Mac Home Possible® mortgage loan is a great option for first time homebuyers and borrowers with low-to-moderate income. Home Possible® is available for new home purchases, with reduced mortgage insurance, flexible sources of funds for down payment and closing costs.
Fannie Mae HomeReady®
The Fannie Mae HomeReady® program is great for first time homebuyers and borrowers with little or no credit history. HomeReady® is available with a variety of options designed to address some of the most common obstacles homebuyers face when purchasing a home. It offers options to help minimize or alternatively document cash for down payment and closing costs, more flexibility when qualifying for the minimum payment using your income, and a lower minimum credit score requirement than most mortgage programs.
USDA/RD (Rural Development)
The USDA Rural Development (RD) program is designed for homebuyers with low-to-moderate income and savings, financing a home in a designated rural area. USDA/RD requires low to no down payment, allowing the borrower additional funds to pay for closing costs or prepaids in the mortgage. In some cases the seller can pay a portion of the sales price to cover closing costs. The USDA/RD loan can also be used to refinance an existing mortgage to a lower interest rate.
Super Conforming
Super Conforming loans provide options for individuals purchasing or refinancing in areas with higher housing costs than are allowed with conventional programs. A variety of terms are available for purchase or refinance to fit your needs.